Switch to ADA Accessible Theme
Close Menu
Free Consultation: 888-976-6111

Red Bank Broker Andre Davis Barred Over Unsuitable Trades

Former First Standard Financial broker Andre Davis (CRD# 1417097) has been sanctioned by the Financial Industry Regulatory Authority over allegations he engaged in excessive and unsuitable trading in his customers’ accounts. Previously associated with the firm’s office in Red Bank, New Jersey, he was barred from associating with FINRA member firms.

According to an Order (No. 2018057640301) dated March 2020, Andre Davis was the subject of a FINRA investigation into allegations he “engaged in excessive and unsuitable trading in customer accounts” while he was associated with First Standard Financial in Red Bank, New Jersey. As part of this investigation, FINRA sent him a request on January 13, 2020 to provide information and documents regarding the matter. The findings state that he indicated to FINRA via an email from counsel on January 29, 20120 that he would not produce the requested documents and information, a refusal that FINRA found to violate FINRA Rules 8210 and 2010. As a result of the foregoing alleged conduct, he was barred from associating with any FINRA member firm.

His BrokerCheck report lists several resolved or pending customer complaints against him. A 2018 complaint alleged that as a representative of First Standard Financial, he engaged in churning and executed unsuitable trades; the complaint settled in August 2019 for $35,000. A pending 2019 complaint alleges that as a representative of First Standard Financial, he executed excessive trades, recommended unsuitable products, and effected unauthorized transactions; the complaint alleges damages of $350,000. Another pending 2019 complaint alleges that while at First Standard Financial, he engaged in unauthorized and excessive trading, and recommended unsuitable investments; the complaint alleges damages of $461,000.

Andre Davis is currently not registered as a broker. His previous registrations include Paulson Investment Company, First Standard Financial Company, National Securities Corporation, Brookstone Securities, Newbridge Securities Corporation, LH Ross & Company, First Montauk Securities Corporation, and JW Barclay & Company. He has passed three securities industry qualifying examinations and his BrokerCheck report lists zero state securities licenses. (Information current as of May 27, 2020.)

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
Latest Blog Posts
  • UBS Adviser Alex Williams: Investor Alleges Unsuitable Options Investment

    Alex Williams (CRD# 2646185), a broker and investment adviser based in New York, has received a pending customer complaint. According...

    Read More
  • $600K Options Complaint Against Los Angeles Broker Bill Calvert

    Financial Industry Regulatory Authority (FINRA) records indicate that UBS Financial Services broker Bill Calvert (CRD# 1023796) has received a pending...

    Read More
  • UBS’ Timothy Croak: Unsuitable Options Strategy Allegations

    Timothy Croak (CRD# 840899), a New York City-based broker and investment adviser, has received a pending customer complaint, according to...

    Read More
  • Wendy Holmes: UBS Adviser Has $1.4M in Pending Options Overlay Complaints

    Wendy Holmes (CRD# 2944190), a broker and investment adviser registered with UBS Financial Services, has received two pending customer complaints...

    Read More
  • Previous
  • Next